rsoriano
Long

Why SPX500 Will Retest 2790

FX:SPX500   S&P 500 Index
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The SP500 dropped more than 2% last Monday and rebounded from the strong area of demand between 2692 and 2697. Price were settling at a level of demand of 2720. The SP500 is currently .8% (as of right now). If it closes strong today, the SP500 will potentially retest 2790. The major supply will be at 2790. If no one is willing to go beyond this high, my forecast that the SP500 will drop massively is highly probable.
Comment: Per my forecast, the SP500 broke the strong area of supply between 2790 and 2801. The SP500 created new highs today. The next target point the SP500 will test is its high of 2876.8 of Jan 2018. My forecast is that if price won't surpass this important price, The SP500 will drop massively from there. Caveat! Buyers Beware!

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